Supplier selection model for commodities procurement. Optimised assessment using a fuzzy decision support system

An optimized multi-attribute decision-making approach to construction supply chain management by using complex picture fuzzy soft set

Supplier selection is a critical decision-making process for any organization, as it directly impacts the quality, cost, and reliability of its products and services. However, the supplier selection problem can become highly complex due to the uncertainties and vagueness associated with it. To overcome these complexities, multi-criteria decision analysis, and fuzzy logic have been used to incorporate uncertainties and vagueness into the supplier selection process. These techniques can help organizations make informed decisions and mitigate the risks associated with supplier selection. In this article, a complex picture fuzzy soft set (cpFSS), a generalized fuzzy set-like structure, is developed to deal with information-based uncertainties involved in the supplier selection process. It can maintain the expected information-based periodicity by introducing amplitude and phase terms. The amplitude term is meant for fuzzy membership, and the phase term is for managing its periodicity within the complex plane. The cpFSS also facilitates the decision-makers by allowing them the opportunity to provide their neutral grade-based opinions for objects under observation. Firstly, the essential notions and set-theoretic operations of cpFSS are investigated and illustrated with examples. Secondly, a MADM-based algorithm is proposed by describing new matrix-based aggregations of cpFSS like the core matrix, maximum and minimum decision value matrices, and score. Lastly, the proposed algorithm is implemented in real-world applications with the aim of selecting a suitable supplier for the provision of required materials for construction projects. With the sensitivity analysis of score values through Pythagorean means, it can be concluded that the results and rankings of the suppliers are consistent. Moreover, through structural comparison, the proposed structure is proven to be more flexible and reliable as compared to existing fuzzy set-like structures.

On strategic choices faced by large pharmaceutical laboratories and their effect on innovation risk under fuzzy conditions

OBJECTIVES

We develop a fuzzy evaluation model that provides managers at different responsibility levels in pharmaceutical laboratories with a rich picture of their innovation risk as well as that of competitors. This would help them take better strategic decisions around the management of their present and future portfolio of clinical trials in an uncertain environment. Through three structured fuzzy inference systems (FISs), the model evaluates the overall innovation risk of the laboratories by capturing the financial and pipeline sides of the risk.

METHODS AND MATERIALS

Three FISs, based on the Mamdani model, determine the level of innovation risk of large pharmaceutical laboratories according to their strategic choices. Two subsystems measure different aspects of innovation risk while the third one builds on the results of the previous two. In all of them, both the partitions of the variables and the rules of the knowledge base are agreed through an innovative 2-tuple-based method. With the aid of experts, we have embedded knowledge into the FIS and later validated the model.

RESULTS

In an empirical application of the proposed methodology, we evaluate a sample of 31 large pharmaceutical laboratories in the period 2008-2013. Depending on the relative weight of the two subsystems in the first layer (capturing the financial and the pipeline sides of innovation risk), we estimate the overall risk. Comparisons across laboratories are made and graphical surfaces are analyzed in order to interpret our results. We have also run regressions to better understand the implications of our results.

CONCLUSIONS

The main contribution of this work is the development of an innovative fuzzy evaluation model that is useful for analyzing the innovation risk characteristics of large pharmaceutical laboratories given their strategic choices. The methodology is valid for carrying out a systematic analysis of the potential for developing new drugs over time and in a stable manner while managing the risks involved. We provide all the necessary tools and datasets to facilitate the replication of our system, which also may be easily applied to other settings.